TITLE:
The Impact of Derivative Use on Corporate Supply Chain Resilience: Evidence from China
AUTHORS:
Zheng Wang, Han Li
KEYWORDS:
Supply Chain Resilience, Derivative, Risk Management
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.14 No.4,
April
30,
2026
ABSTRACT: Enhancing supply chain resilience is crucial for China’s high-quality economic development. This study selected A-share listed companies from 2010 to 2023 as samples and investigated the impact of derivative usage on supply chain resilience. Research findings indicate that the utilisation of derivatives significantly enhances corporate supply chain resilience. This conclusion remains robust after employing multiple endogeneity treatment methods. Mechanism analysis indicates that derivative usage enhances supply chain resilience by alleviating corporate financing constraints and reducing business risks. Heterogeneity analysis reveals that the enhancing effect of derivatives is more pronounced among firms with higher internal control levels, lower market positions, and higher industry competitiveness. Finally, further analyses reveal that supply chain resilience significantly enhances corporate performance by improving asset utilisation efficiency and production efficiency, providing empirical evidence for firms to translate supply chain resilience advantages into operational outcomes.